Global economic situation for liveaboard cruising yachties

For Landlubber on Chinese bullion holdings http://financialsense.com/editorials/schmidt/2009/0511.html

For ALL USAnians, Your country (government has committed to borrowing 29.1 TRILLION so far and will most likely need to borrow MORE - You want MORE?) that is $1000 bills stacked in 29 columns about 70 miles high BORROWED!!!!!! - who is a f&&$#@* idiot that let that amount get wasted ? on what ? ? ? ? read on here http://www.financialsense.com/Market/allison/2009/0511.html - - For the love of something except money/debt - do something USA.... (emigrate to Zimbabwe?)

 

Mas, China currently holds over 1000 tonnes of gold. They are not going to dump that on the market, or the price would free fall (laws of supply and demand).....they are building daily on this, just 3 years ago it was 600 tons...they keep digging, just keep digging, the stuff for the government cost bugger all, yet the world prics of about US$900, is just like"digging gold out of the ground".

 

Sorry Landlubber, maybe I was not very clear, but if the story suggested that if US$ starts falling too much, ALL will dump that, for what they can get - no point in trying to grasp a falling blade - the Gold is to hold and acquire more as China has expressed a willingness and desire to link gold and any other form of currency (get away from the inherent risk in fiat money)...

The USA may hold several thousand tonnes of gold, but nowhere near the amount of debt it is carrying - (I think it was somewhere near 6000 tons) against US$29 trillion, so about US$146,465/oz - That would make me a multimillionare

 

I had no idea it was that high
we are screwed

 

No Boston, no problems, what you do is print more money to pay the bills.......oh, sorry, already tried that.......well then, we could sell our gold reserves.....oops, not nearly enough to cover the debts......well then.....yep, we are all screwed.......you are right!

 

Boston aint, he is an Indian, Landlubber ain't cause he is an Aussy and working in China but the usanians - well I suppose we could pray? to and for what I am not sure as they seem to be screwing themselves quite nicely...

 

Masalai, Boston reckons hes an Iroqui (if I remember correctly, sorry boston). Calling the real Americans (native people) Indians is actually an insult. Indians are from India. Just so you know why you are tied to a mast of a drowning boat, should you wake up one day in that situation!

: )

I remember witnessing a domestic (think 30 people) discussion (think fistfight among brothers...) in Colombia over "Indios" remark. One cousin called the other "Indios" which for them is a synonim for stupid...Boy what a fun the first half an hour. Then someone pulled out a machette. What happened then still has me wondering how come no one even lost a limb, let alone died...

On a lighter note, Landlubber reckons usa would return big time. China would save them (their investment). Well...

http://www.chinaeconomicreview.com/...n_Chinas_gold_reserves_stimulates_market.html
http://news.bbc.co.uk/1/hi/business/8020721.stm

I'm with Panarev. And Clemente.

 

Just been watching a bit of Bloomberg TV - Sheeech whose side are they on - selling so many dead horses - Knackery salesmen? - Must be owned by the major banks (the ones that got bailed out and are still trading whilst insolvent)? - I doubt anyone would be able to believe their hype for long, as all the charts and hard numbers from around the REST of the world show it for the BS it really is and only accepted to be for internal USA fodder for sand-pit dwellers.... or non-investors who know not of the markets internationally.

Anyway Boston, What is your nation?, Just so I do not breach the PC regime again

For masrapido - I like relating the story of a "friendly" rugby match of locals representing the Maori and on the other side, the Samoan people... Well the Maori started with their usual Haca "war" (intimidation) dance and the Samoan - pissed of with this pose, copied the moves of the dance but used the nursery rhyme of "... Humpty Dumpty sat on a wall, Humpty Dumpty had a big fall..." - then all semblance to a "football game" ceased - but I think the Samoans won as some of them were still standing..... - That was on the southern edge of Brisbane in a region called Logan City... about 3 years ago...

This is significant information "...The US may end up borrowing nearly three trillion dollars this year in its efforts to stimulate the economy, and run a budget deficit in excess of two trillion dollars. Expect interest rates to start ticking higher under this avalanche of supply, despite the quantitative easing. Even more ominous are the overall costs of this stimulus/bailout program thus far. According to data from the Federal Reserve and the Congressional Budget Office, the government has made hard guarantees of $12.9 trillion ($8.2 trillion by the Federal Reserve, $2.7 by the Treasury Dept. and $2.0 trillion by FDIC). Of this $12.9 trillion in government guarantees and spending, only 1.5% is directed toward infrastructure, or just $190 billion. In addition the government has made asset purchases of $2.3 trillion, implicit guarantees of $7.3 trillion to Fannie Mae, Freddie Mac and Ginnie Mae, and “soft” guarantees of $6.6 trillion to the banking system. It all adds up to a cool $29.1 trillion...." part of what is referenced above (for the lazy)... All but $190 billion is useless pork-barreling or totally wasted and of no benefit to the USA taxpayers or voters or citizens or residents...

AU$ still climbing against the US$ for a 2.5% range during the day, faster than gold is climbing. so my bullion would yield less in AU$ if I sold - - - All currencies seem to be down-valuing the US$ and my guess is that the FED will not be able to hold back the rapid fall for much longer

 

its ok Mas
Iroquois is the common name we are known by
Haudenosaunee is the term we use among ourselves
and there are six nations in the Iroquois confederacy
I am a Cayuga
and if you really want to get technical its
Gayogoho:no
which I think means people of the swamp or people of the pipe or something like that

there were about 500 nations in north America
might be a little hard for someone who doesnt even live here to keep em straight Mas so no worries

I say we are all brothers
time to shake hands and all start acting like it
B

although I gotta admit
I do enjoy screwing wall street out of every nickel I can

cheers

oh and just went all in at 909.2 sso which means Im expecting it to rise

 

This may explain a little of what may be coming soon in global economic markets as a washout from the continuing fiscal crash in USA http://financialsense.com/fsu/editorials/2009/0512.html and other reports seem very bullish on gold and gold stocks with major breakout anticipated (at last)....

http://financialsense.com/editorials/bronson/0512_Forecast.pdf is a big read, but well worth the effort, as they have an excellent track record....

 

made my first bad move in a while today when I chickened out after nose dive in the market
it came back and I would have made a nice 1/2 a percent
itstead I lost 1/4
oh well had to happen eventually
I was on a 19 trade streak until today
B

 

OK, so don't be glum about it, 1:20 is fairly good odds and the margin of loss was minimised... Win some and loose some, and you seem to be winning more than many...

 

nah Im fine about it, its just Ive never hit 20 in a row and I was kinda getting all exited about it
Ive made fifteen a few times and so far 19 is my best
but I should have had more confidence in my trade
ya the market tanked unexpectedly
but the S&P's position on the graph was as near a sure thing as Id ever want to see
it had to go up
it did
just not till it tanked first
and that tank was an anomalous event given the trends over the last two months
( takes some explaining but if you want to send me an e mail Ill send you a picture of a chart with my trends lined out on it )

some jack *** in the government probably made a speech and screwed up my run
Im ok with it
Ill write it off my taxes as a business loss and see if they catch it
har har

 

I think I already warned of the likelihood of FED or other intervention, as they are playing their own games for themselves FIRST, In Australia that would be called insider trading and quickly taken to court - but they seem to be exempt from obeying any laws or being prosecuted....

On a brighter note, how about this? http://financialsense.com/fsu/editorials/gofsky/2009/0512.html and then this http://financialsense.com/editorials/bronson/0512_Forecast.pdf (39 pages)

I just found another expenditure line to add to the 29.1 trillion so far "...A current government report tells us that medicare and social security liabilities are soaring past $50 trillion..." and that is UNFUNDED debt I think??? Therefore do not become unemployed, sick etc and bugger off else you will be the last person standing with 79 trillion and growing - Erk, not enough paper in the world ?.?.?.?

 

got in at 8872 SSO and looking good so far
should come back up to about 8950 if Im lucky
cheers
B

oh I landed a couple of Victorian porches to rebuild so I should be able to augment my trade account ahead of simple profit projections
basically with the grant to cover my expenses at you know where I can focus more on my market plan
I might just be building sooner than I think
but Ive got a long way to go in redesigning the under body of that old elco before I can think of starting prints

which I am going to love drawing
B